Dave Ramsey

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NORTH TYNESIDE, ENGLAND - MAY 12: Labour Party posters are displayed in the window of a property in North Tyneside on May 12, 2017 in North Tyneside, United Kingdom. The traditional Labour area of North Tyneside has seen a gradual decline in traditional industries over recent years.

Eric from Tampa, Florida, has an issue with the rising prices of Homeowner’s Association (HOA) fees. Eric would like to move back to Michigan to be closer to family, but the condo he is looking at has ridiculously high amounts of HOA fees.

Eric wants Dave’s advice on how much is too much. Dave states that you shouldn’t be paying a disproportionate amount in fees. If you spend $1500 in rent but $1000, you pay too much to the HOA.

Dave asked Eric to research the HOA before he moves and make sure they set aside funds for everything. Dave recalls getting slammed for restoring the parking lot of a condo he lived in, but his HOA fees were super low.

Dave suggests checking into their spending habits too. If they are spending too much, they are probably charging too much. You can’t turn a rinky-dink condo into the Taj Mahal. A good association will have an agent that assists the president in making sure the funds are going to the right places.

Finally, check into the politics of the place. If you have someone in charge to be in charge, you may have a bad experience. Make sure they spend their time improving the community and not just checking bushes for the correct diameter.

Catch The Dave Ramsey Show weekdays from 1 to 3 pm on Money Talk 1010
Dave Ramsey is America’s trusted voice on money. 23 million get guidance from Dave’s radio show on Money Talk 1010, his podcasts, and videos. He’s a national best-selling author and has changed over 6 million lives with his guided money plan.


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